Halo 10-Year Residential Guarantee is here

I am delighted to launch our new Halo 10-Year Residential Guarantee product to our members. From previous communication to members over the last three months, the new Halo Guarantee is being provided by Halo Guarantees Limited, a company owned 100% by the New Zealand Certified Builders Association (NZCB) but with its own Board, staffing and contact details keeping it separate from the Association. The guarantee that is being offered is the first version from Halo Guarantees Limited. I am sure over the coming months there will be developments and refinements of the terms and conditions of cover provided by the guarantee.

Halo Guarantees Limited will accept applications from 1 October 2020 for projects that have started from January 2020 onward, but due to the suspension of the Halo insurance guarantee product were not able to be provided earlier in the year. This is in line with what has been outlined in past updates to members over the last few months on the reintroduction of the Halo Guarantee.

This is an exciting time for the Association and I know you will support the new Halo Guarantee in providing assurance to your homeowner customers in addition to them choosing an outstanding builder being a member of NZCB.

Where do I get more information on the Halo Guarantee?

All Halo Guarantee resources are now available for download from the NZCB Members’ Only Toolshed website, by clicking on the Halo tab. You can download the following documents: • Halo Homeowner Handbook – for full terms and conditions • Halo Member Handbook – includes comparison chart • Halo Application Forms • Halo Waiver of Subrogation

How do you apply for a Halo Guarantee?

There are several ways that you can apply for the Halo Guarantee:

1. Online If you are using a NZCB Online Building Contract your Halo Guarantee Application is automatic from 1 October 2020.

2. Manual Application Form If you are using a NZCB Hardcopy Building Contract or another type of Building Contract, you will manually have to complete a Halo Guarantee Application Form and email this to applications@halo.nz, along with a copy of your building contract.

3. Retrospective Application Form If you are making an application after the build has started, you will need to complete a Retrospective Application Form. Please send Retrospective Applications by 31 October 2020 via email to applications@halo.nz, along with a copy of your building contract.

NB: Halo Guarantees Limited may also require a copy of your building plans but they will advise you if this is needed.

The Guarantee at a glance

HALO 10-YEAR RESIDENTIAL GUARANTEE

Application process

Ensure your Halo Guarantee Application has been sent.

Guarantee Acceptance: We will let you and the homeowner know when your guarantee has been accepted (after processing your application and payment of the guarantee fee) in the form of an electronic letter

After building work is completed

Materials and Workmanship defects [Structural and Non Structural]

Structural defects

COVER TIME FRAME

work starts You are covered for is completed 8 years from Guarantee Acceptance During remedial work above

HOW MUCH ARE YOU

You must apply before building

The Halo Guarantee commences on the Possession Date or the Completion Date (whichever is the earlier) and ends on the 10th anniversary of that date

2 years after building work

You are covered for the next Maximum total for all claims over the life of the Guarantee = $1,000,000 or value of the Building Contract, whichever is the lesser*

Maximum total for all claims over the life of the Guarantee = $1,000,000 or value of the Building Contract, whichever is the lesser*

Temporary accommodation during remedial work Covered up to 26 weeks

Selling your property

The Guarantee will be automatically transferred to a new Owner multiple times during the life of the Guarantee Transferring the Guarantee does not extend any of the timeframes

COVERED FOR?

*Maximum single claim $250,000 or value of the Building Contract, whichever is the lesser.

Visit the NZCB Members’ Only Toolshed for the full set of Halo Guarantee terms and conditions.